Facebook (FB) Nears Key Level with Short Interest at Record Highs
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Facebook (Nasdaq: FB) is now at an all-time low since its IPO on May 18th. Shares are down about 3.9 percent Thursday afternoon, hitting the key $20 level.
Data from Bloomberg has short interest at a record high of 12.1 percent as of July 31st.
Notably, the lock-up on 271 million Facebook shares expires August 16th.
Last week, Streetinsider reported that options activity suggested potentially more downside for Facebook, but that wasn't expected until October or November.
Also, Facebook was hit yesterday with news from UBS that it lost over $350 million on the Facebook IPO.
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Data from Bloomberg has short interest at a record high of 12.1 percent as of July 31st.
Notably, the lock-up on 271 million Facebook shares expires August 16th.
Last week, Streetinsider reported that options activity suggested potentially more downside for Facebook, but that wasn't expected until October or November.
Also, Facebook was hit yesterday with news from UBS that it lost over $350 million on the Facebook IPO.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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